Zion Company's budgeted production of its new product for May is 1,000 units. Each unit requires 2 hours of direct labor time and the average wage rate is $12 per hour. The variable overhead rate is $8 per direct labor hour and the fixed overhead is budgeted at $5,000 per month. What would be Zion Company's budgeted total overhead costs for May? $21,000 $16,000 $13,000 $5,016